Appreciation value in Nusaputra is very depending on:

Development in Cyberjaya

New Development in Cyberjayaas of December 2012credit to: http://cyberjaya.name/newdevelopment.htm

New Commercial Project in Cyberjaya28th October 2011

Property developer, Glomac Berhad is launching a freehold commercial project in Cyberjaya at the end of this month.

The site for Glomac Cyberjaya 2 was acquired shortly after the highly successful launch in its maiden project in Cyberjaya.

“To further capitalise the momentum and success of Glomac Cyberjaya Phase 1 & 2 and to continue to develop more shop offices, we acquired the adjacent second plot of land due to its successful take-up rate,” said Glomac group managing director/CEO Datuk FD Iskandar.

Glomac Cyberjaya Phase 1 & 2, which sits on part of the 3.64ha tract, features 63 units of three-storey shop offices is fully sold. It is due to be completed by end of this year.

Glomac Cyberjaya 2 will consist of 55 units of three-storey, three- and-a-half and four-and-half-storey of shop offices and a 24-storey office tower, each with a sophisticated modern facade that more than match its illustrious surrounding neighbours.

The built area is from 3,300sq ft onwards and the range of price starts from RM1.29mil onwards.

This development will present a wider range of investment opportunities that are ideally suited for small to medium-sized businesses seeking a stylish business address in the heart of Cyberjaya.

The entire development of Glomac Cyberjaya is strategically located along Persiaran Apec.

This ideal development is within the address of technological excellence, Cyberjaya, with HSBC, Ericsson, IBM and DHL as its surrounding neighbours.

For more information, call 03-7801 9000.

By The Star

Mah Sing Buy Land in Ampang & Cyberjaya 4th November 2010

KUALA LUMPUR: Mah Sing Group Bhd has acquired two parcels of freehold land for RM166.5mil which are expected to generate a combined gross development value (GDV) of RM1.2bil.

The 1.88ha in Jalan Ampang, named M City Jalan Ampang, will be a niche project comprising serviced residence and retail outlets with an estimated GDV of RM920mil to be developed in five years.

“The land is flat and vacant and ready for immediate development. Furthermore, conversion premium to commercial development has been paid for part of the land and it comes with a sub-structure for two levels of basement car parks,” group managing director and group chief executive Tan Sri Leong Hoy Kum said in a statement yesterday.

Mah Sing has also acquired a 13.94ha freehold land next to its Garden Residence township in Cyberjaya which will add RM280mil to Garden Residence’s GDV and expand the township size to 60ha.

“Together with this latest acquisition, Garden Residence is a sizable project which will take between three and five years to complete.

“It is certainly an opportune time to replenish our land bank in order to meet the strong demand and we intend to create an exclusive enclave of semi-detached homes on the new land,” Leong said.

To date, the group had acquired new projects with a combined GDV of RM3.1bil. – Bernama

Meanwhile, it currently has projects with remaining GDV and unbilled sales of RM8.64bil.

“Giving the rapid growth of development in Cyberjaya, we are confident to achieve that growth through land sales for enterprise, commercial, institutional and residential space,” managing director Hafidz Hashim said yesterday after Cyberjaya’s annual media briefing.

Hafidz said the RM3.19bil represented more than a third of Cyberjaya’s total investment value of RM9.1bil since its inception over 10 years ago.

In 2009, Cyberjaya received investment worth RM1.29bil.

Hafidz said the company was also optimistic of surpassing this year’s investment figure for 2011, as it had secured projects worth RM1.48bil to start next year.

“Cyberjaya intends to support the Government’s aspiration to become a developed and high income nation as had been tabled in Budget 2011.

“We are poised to bring development-centric initiatives to fruition in line with what had being announced during the recent budget,” he said.

He added that to date, more than 500 companies, including global multinationals such as HP, Dell, Fujitsu and Motorola, had set up regional and global centres in Cyberjaya.

“Cyberview aspires to strengthen the key government initiatives by driving inward local and foreign investments, developing skilled workers and talents, and nurturing creative economies in Malaysia via its thriving content creation and multimedia industries,” he said.

On the other hand, Hafidz said Cyberview had in place initiatives from Budget 2011 that called for creative content development as a key contributor to the national economy with Cyberjaya-TV.com, which went on air earlier this year.

“As a whole, Cyberview’s vision and direction for Cyberjaya closely echoes the four major thrusts identified by the National Economic Advisory Council for the implementation of the New Economic Model, which are talent development, the creation of research and development ecosystem, provide growth infrastructure and institutional development,” he said.

On the current population living in Cyberjaya, he said there are 12,000 residents at the moment and the figure was expected to reach 35,000 in 2014.

The annual media briefing brought together Cyberjaya stakeholders such as Multimedia Development Corp, Setia Haruman Sdn Bhd and the Sepang Municipal Council.

PRIVATELY-HELD property developer Emkay Group is on the lookout for land in Cyberjaya, Selangor, to build office towers.

Its senior general manager Mazrita Mazlan said that office space was in demand and easier to sell, giving good returns to the group as foreign multinational corporations liked to buy floor by floor en bloc.

"Office space is what the market wants right now as the government does not have enough buildings to house their ministries and agencies such as the Department of Environment and the Public Service department. Also, Cyberjaya is near Putrajaya with easy and fast connectivity," Mazrita told Business Times.

"Furthermore, office space which is usually sold en bloc is hassle-free because documentation process is under one company, making it faster to process at local government agencies compared to shop-houses," she added.

Mazrita said the group recently bought 1.4ha in Cyberjaya for RM7 million, on which it plans to build another two to three office blocks or special purpose buildings.

"We have sufficient experience to build office towers, such as our completed RM100 million Bangunan Mustapha Kamal in Cyberjaya and the RM350 million Menara Mustapha Kamal in Damansara Perdana, Petaling Jaya.

"But we plan to build office towers cautiously and will first undertake feasibility studies to see the project's viability," she said.

Mazrita added that some international firms, especially information technology (IT), find it cumbersome to buy land and build their own offices.

"They would rather tender out construction of the buildings and then rent or sell them to investors."

The Emkay group is owned and controlled by property tycoon Tan Sri Mustapha Kamal Abu Bakar, who is also the executive chairman and dominant stakeholder of associate company MK Land Holdings Bhd.

He holds 48.7 per cent of MK Land via privately-held MKN Holdings Sdn Bhd, which in turn is one of 15 companies owned by Mustapha grouped under the Emkay stable.

Emkay associate company Setia Haruman Sdn Bhd is also the master developer of Cyberjaya.

Mazrita believes that Cyberjaya is the place to be as it is home to 20,000 students, out of which half are foreigners.

It is also a workplace for 19,000 workers spread across 50 MSC Malaysia-compliant buildings spanning 5.8 million sq ft.

"Property price in Cyberjaya is competitive at RM350 per sq ft compared with other competitors at RM450 per sq ft, and rental yield here is 7 per cent per year," said Mazrita.

CYBERJAYA'S overall development, encompassing the ambitious MSC Malaysia to leapfrog Malaysia into the information and knowledge age, is expected to be 30 per cent complete by year-end.

Cyberjaya landowner, Cyberview Sdn Bhd, said the township's current level of development has exceeded the target, with investors having injected RM5 billion worth of investments in building construction.

Rashid Mat, general manager for business, corporate communications and planning, said land worth RM390 million was sold last year and RM300 million in 2008, reflecting growing interest by global firms to relocate to Cyberjaya, dubbed the "Intelligent City".

The inflow of notable global multinational corporations (MNCs) into Cyberjaya continue unabated, with Hewlett-Packard (HP), the world's largest technology company headquartered in California, looking to expand its presence in Cyberjaya, Rashid said.

Cyberview has developed 600,000 sq ft of office building on 11.2ha for HP.

It is understood that HP is keen to buy another piece of land to develop a data centre in Cyberjaya. Spanning an area of about 2,800ha, Cyberjaya is home to more than 20 MNCs including Dell, Satyam, HSBC, Motorola, IBM, HP, data centres of Bank Negara Malaysia and Malaysian Communications and Multimedia Commission, universities, commercial zones and residential estates.

In terms of office space, Cyberview said the company is looking to develop 8.04 million sq ft by year-end from the previous five million sq ft target due to growing demand from MNCs and MSC-status companies.

Rashid said many companies are now willing to own a property in Cyberjaya than to rent premises. "We will continue to pursue the plan for foreign companies to set up their operations in Cyberjaya. The demand is not just from MNCs, but also MSC-status companies," he said.

For residential space, Rashid said more developers are starting to develop projects in Cyberjaya and purchase land from Setia Haruman Sdn Bhd, the master developer of Cyberjaya.

"Over 2,900 residential units have been completed, with another 2,300 in the pipeline, including the Garden Residence by Mah Sing Group Bhd and Symphony Hills (by UEM Land Bhd)," he said.

Rashid said Setia Haruman sold RM390 million worth of land in Cyberjaya last year and RM300 million in 2008 which will further alter its landscape into a bustling business enterprise.

By Bernama

Cyberjaya to be 30% Complete by Year-End

13th August 2010

CYBERJAYA'S overall development, encompassing the ambitious MSC Malaysia to leapfrog Malaysia into the information and knowledge age, is expected to be 30 per cent complete by year-end.

Cyberjaya landowner, Cyberview Sdn Bhd, said the township's current level of development has exceeded the target, with investors having injected RM5 billion worth of investments in building construction.

Rashid Mat, general manager for business, corporate communications and planning, said land worth RM390 million was sold last year and RM300 million in 2008, reflecting growing interest by global firms to relocate to Cyberjaya, dubbed the "Intelligent City".

The inflow of notable global multinational corporations (MNCs) into Cyberjaya continue unabated, with Hewlett-Packard (HP), the world's largest technology company headquartered in California, looking to expand its presence in Cyberjaya, Rashid said.

Cyberview has developed 600,000 sq ft of office building on 11.2ha for HP.

It is understood that HP is keen to buy another piece of land to develop a data centre in Cyberjaya. Spanning an area of about 2,800ha, Cyberjaya is home to more than 20 MNCs including Dell, Satyam, HSBC, Motorola, IBM, HP, data centres of Bank Negara Malaysia and Malaysian Communications and Multimedia Commission, universities, commercial zones and residential estates.

In terms of office space, Cyberview said the company is looking to develop 8.04 million sq ft by year-end from the previous five million sq ft target due to growing demand from MNCs and MSC-status companies.

Rashid said many companies are now willing to own a property in Cyberjaya than to rent premises. "We will continue to pursue the plan for foreign companies to set up their operations in Cyberjaya. The demand is not just from MNCs, but also MSC-status companies," he said.

For residential space, Rashid said more developers are starting to develop projects in Cyberjaya and purchase land from Setia Haruman Sdn Bhd, the master developer of Cyberjaya.

"Over 2,900 residential units have been completed, with another 2,300 in the pipeline, including the Garden Residence by Mah Sing Group Bhd and Symphony Hills (by UEM Land Bhd)," he said.

Rashid said Setia Haruman sold RM390 million worth of land in Cyberjaya last year and RM300 million in 2008 which will further alter its landscape into a bustling business enterprise.

By Bernama

UEM Land Expects Brisk Symphony Hills Sales

2nd August 2010

UEM Land Holdings Bhd, the real estate investment and property development arm of UEM Group Bhd, believes its first phase of landed properties launched in Cyberjaya will be snapped up within weeks as homebuyers see value in the properties.

"When one sells, one must sell value," said managing director and chief executive officer Datuk Wan Abdullah Wan Ibrahim in Cyberjaya last Saturday.

Its new development, dubbed Symphony Hills, was unveiled to special invited guests on Saturday.

Wan Abdullah said the response has been "very good" so far as there were interested buyers keen to book the properties prior to the official launch.

Based on its opening weekend alone, it has sold more than 40 units valued at about RM60 million.

He said these landed properties are sold for about RM320 per sq ft, which is competitive against its other landed property developers within the vicinity.

However, he believes Symphony Hills offers greater value to its peers because it is based on the "Connected Intelligent Community" platform. It will also have a clubhouse.

"It's like buying a condominium, only that it is a landed property. So, at about RM320 per sq ft, homebuyers should be able to see the value and potential of it," he said.

The company's residential property development project in Cyberjaya will comprise of 450 units of terrace and semi-detached houses, as well as over 500 units of low-rise apartments.

For the first phase, it will only unveil 122 units of landed properties.

Symphony Hills is also the company's maiden project in Cyberjaya.

There will be four designs of houses under the first phase, namely Beethoven, Mozart, Schumann and Schubert.

The Mozart and Schubert units are terrace houses, while the Schumann units are townhouses, and Beethoven units are semi-detached houses which the company calls it as twin villas.

The Schumann townhouse comes in studio and duplex units, while the Beethoven twin villas comes in two types: the three-storey Twin Villa with a total built-up area of 5,661 sq ft and the two-storey version (4,620 sq ft).

Wan Abdullah said more and more people are considering living in Cyberjaya these days, as it is now "more convenient" for people to travel to Cyberjaya.

By Business Times

UEM Land to Launch Symphony Hills Phase 1

30th July 2010

UEM Land Holdings Bhd is launching phase one of Symphony Hills, a RM1 billion five-year residential project in Cyberjaya, and is confident demand will be strong.

In fact, it expects to sell all 122 superlink houses, townhouses and town villas that will be launched this weekend. Prices range from RM1 million to as much as RM2.3 million per unit.

Managing director Datuk Wan Abdullah Wan Ibrahim is optimistic of strong sales judging from the demand shown by both locals and expatriates in the Klang Valley, especially in Cyberjaya.

"We feel Symphony Hills is hitting the market at the right time. There is Maju Expressway improving connectivity between Cyberjaya and Kuala Lumpur.

"Cyberjaya has announced several new international firms coming on board. These include Fortune 500 companies, which will spur demand for new housing. Cyberjaya is going to fly," he said.

UEM Land is partnering Mesiniaga Bhd and Cisco Malaysia to develop Symphony Hills, which is the first residential development for the company outside of Nusajaya in Johor.

Each house at the 98ha Symphony Hills will have strata landed status, allowing residents to maintain certain aspects of the project from landscaping to security.

The project, which will be certified green, will also have a floating clubhouse incorporating green technology for rainwater harvesting.

"Although the prices are steep, our margins are very mediocre. We won't get 30 per cent to 40 per cent margin, but the satisfaction will come from being the first developer here to offer such a community.

"A lot of budget is being planned on the ICT (information and communications technology) component. We believe in value. We will make decent margins in the next few phases once we have delivered the first batch of houses," he said.

UEM Land wants to buy more land in Cyberjaya, Kuala Lumpur, Penang and Kota Kinabalu to expand.

CYBERJAYA: UEM Land Holdings Bhd, which will launch its maiden property project in the Klang Valley this weekend, expects “mediocre margins” from the 122 landed strata homes offered under the first phase of its high-end residential development, known as Symphony Hills, in Cyberjaya.

Managing director and chief executive Datuk Wan Abdullah Wan Ibrahim said he was confident buyers would be willing to pay more for future launches at the site once the main components of the development were completed.

“I managed to convince the board of directors that our margins will improve to a ‘decent’ level in upcoming launches after they (buyers) can see what we have delivered,” he told a media preview at the site yesterday.

A number of UEM Land’s projects in Johor have won international acclaim and the company is setting a high target for Symphony Hills.

Going forward, UEM Land will continue to expand its presence outside Johor.

“We have a little war chest that we will use to acquire good landbank in several hotspots,’’ said Wan Abdullah. He identified these so-called hotspots as the Klang Valley, Selangor, Penang and Kota Kinabalu in Sabah.

He said the group would only consider expanding overseas after 2012.

Symphony Hills is located on a 98-acre site near Multimedia University. UEM Land plans to build 2,865 residential and commercial units with a gross development value of RM1bil over the next five to eight years.

Only 410 landed homes are planned for this project, billed as the country’s first “connected intelligent community” development.

“Symphony Hills was conceptualised under a strategic and intelligent masterplan that reinforces aspects of planning, design and technology.

The concept combines the elements of comfort, convenience, community and security,’’ Wan Abdullah said.

The first of the “intelligent” houses will sell for RM1mil to RM2.3mil each, or RM300 to more than RM400 per sq ft, depending on design, size and location.

Wan Abdullah said a “floating pavillion” clubhouse within the development would be ready by the time the first batch of homeowners received their keys.

To ensure the project would live up to its wired and connected billings, UEM Land has roped in network system provider Cisco and Mesiniaga Bhd as partners.

UEM Land is the master developer of Nusajaya, Iskandar Malaysia in Johor, where it has 9,564 acres under various stage of development. The company is also a 25% shareholder in Setia Haruman Sdn Bhd, the master developer of Cyberjaya.

Wan Abdullah credited the Maju Expressway, which significantly cut travel time between Cyberjaya and Kuala Lumpur city centre, as the key to Cyberjaya’s recent revival.

“I believe we are hitting the market at the right time,” he said.

By The Star

UEM Land Expects Average Margins from Cyberjaya Property Launch29th July 2010

CYBERJAYA: UEM Land Holdings Bhd, which will launch its maiden property project in the Klang Valley this weekend, expects “mediocre margins” from the 122 units on landed strata homes offered under the first phase of its high-end residential development known as Symphony Hills in Cyberjaya.

Managing director and chief executive Datuk Wan Abdullah Wan Ibrahim said he is confident buyers would be willing to pay more for future launches at the site, once the main components of the development were completed.

“I have managed to convince the board of directors that our margins will improve to a decent level in upcoming launches after they can see what we have delivered,” he told a media preview at the site today.

A number of UEM Land’s project in Johor had already won international acclaims, and the company is setting a high target for Symphony Hills in Cyberjaya.

By The Star

Suntrack Sells 85pc of Project Before Lunch9th July 2010

SUNTRACK Development Sdn Bhd has sold 85 per cent of its RM115 million high-end project dubbed "SummerGlades" in Cyberjaya, Selangor, even before its launch.

The low-density development comprises 137 units of 2-storey terraced villas with a built-up of 3,000 sq ft. Each house is worth RM760,000 to RM1.2 million.

Project director James K.K.Tan said SummerGlades sold well because of the size of the houses, the layout and open space.

He said majority of the buyers are locals who work in Cyberjaya. Less than 5 per cent are investors from Indonesia.

"Cyberjaya is more vibrant now compared with five years ago. There is a lot more development here and this has improved demand for new housing.

"A house like that in SummerGlades will cost more if it is located in Kuala Lumpur. People are buying to live in Cyberjaya.

The project is located in the prestigious Perdana Lakeview West, just across the majestic 395ha Putrajaya Lake.

The layout has been conceptualised to be resort chalets cum holiday homes. There are several blocks of houses on curved streets, each with 3 or 4 units.

Each house has five bedrooms and five bathrooms. The living, dining and the bedrooms all have views of the garden and street landscape. Some houses are fronting a 2.4ha wetland park.

Tan said 40 per cent of the 9.2ha freehold project will be covered in green on flat ground, making it one of Malaysia's greenest developments around.

The guarded community is protected by 24-hour surveillance, guards and perimeter fencing.

Tan said SummerGlades will set a new standard for the property market.

The houses are designed to be green. Clay bricks are used for cooling effect. There is natural ventilation and lighting in every home.

"Our window frames are bigger performance window frames so they are more air tight. We are almost like a fashion designer so there will be very minimal post renovation work," Tan said during a media preview in Cyberjaya yesterday.

Tan said the project, which will be completed by first quarter 2012, will be submitted for the Fiabci, as well as CNBC, Bloomberg Asia and the Institute of Landscape Architects Malaysia awards.

By Business Times

SummerGlades in Cyberjaya Offers Affordable Resort Living

9th July 2010

Property developer, Suntrack Development Sdn Bhd, has just introduced its latest residential project, SummerGlades. Located at the exclusive Perdana Lakeview West in Cyberjaya, SummerGlades’ double storey terrace villas are designed to give the feel of a resort chalet.

Despite being an idyllic everyday getaway with an expansive view of the Putrajaya Lake, Summerglades is still within close proximity to Cyberjaya’s Street Mall, Equine Park Jusco and Alamanda Shopping Centre in Putrajaya. This spacious haven is a mere 25 minutes from Kuala Lumpur City Centre (KLCC) via the Maju Expressway. SummerGlades is further accessible through six other major highways.

The 23-acre development is a free-form street layout with curved streets, non-conventional grid lines, a six-acre wetland, and 10 manicured gardens. Every resident will be able enjoy the view of the gardens that surround SummerGlades from their very own living room, dining and master bedroom.

“SummerGlades is located in a prime area in Cyberjaya, which is a well-planned township with good infrastructure, and a thriving commercial centre. We saw great potential in the SummerGlades site and seized the opportunity to provide a unique residential development to cater to more discerning tastes,” explained Suntrack Development Sdn Bhd project director James Tan.

SummerGlades’ standard intermediate units are 24’ x 80’, while the standard corner lots are 34’ x 80’. Offering a variety of facades, built-up areas range from 2,945sq ft to 3,050sq ft, and units are priced from RM759, 800 to RM1.2million.

“With only six units per acre, SummerGlades is a very low density development in a class of its own. The units are also well-designed from a technical perspective. Even minor details have been taken into account to ensure aesthetic value of the units and minimum post-purchase renovations,” Tan elaborated.

Every unit in SummerGlades is equipped with glass shower screens, air conditioning points with refrigerant piping and hot water piping. To ensure residents’ safety, each unit will have an automatic gate and security alarm system. SummerGlades also boasts a garden resort theme that features scenic walking, jogging and cycling trails, playgrounds, community lawns and orchards.

Explaining SummerGlades’ concept, Tan said, “This is not just any property. SummerGlades prides itself on being different by ‘borrowing space’ from the surrounding gardens. The substantial green area makes SummerGlades the new standard in the property market. From the jetty at the wetlands, to the fruit bearing trees in the community orchard, our concept is one of a kind. SummerGlades will give residents a special lifestyle, allowing them to raise their children in a natural environment.”

With 65% already sold, the project will begin construction next month and is estimated to be completed in March 2012. SummerGlades has an estimated gross development value of RM115 million.

For more information, call Suntrack Development Sdn Bhd at 03-8318 3188/89 or visit www.summerglades.com.my

Cyberjaya to be Fully Developed in 15 Years

Setia Haruman Sdn Bhd, the master developer of Cyberjaya, is targeting to fully develop the city within 15 years, says chief operating officer Lao Chok Keang.

In an exclusive interview with StarBizWeek, Lao says currently about 35% of 3,705 acres of saleable land has been taken up.

“Land use for enterprise consists about 1,181 acres, commercial 352 acres, mixed development 290 acres, residential 1,564 acres, institutions 308 acres while light industry is about 10 acres. With better accessibility nowadays to Cyberjaya, I think we can see the full development of Cyberjaya within 15 years,” he says.Setia Haruman has been entrusted with the role to plan, design and prepare the primary infrastructure for the Cyberjaya Flagship Zone.

The area covers 7,129 acres of freehold land consisting of four main zones known as enterprise, commercial, institutional and residential. Each zone is fully equipped with a host of intelligent network services and interactive broadband services.

Since its launch in 1997 and some RM2bil in investments, Setia Haruman has successfully developed Cyberjaya as the country’s intelligent city. Cyberjaya has also taken shape to become an eco-friendly city with lush landscape gardens and streetscapes.

The city is fully equipped with wireless interactive city broadband services, fibre-optic networks and the latest technologies in information technology infrastructure and facilities.

Development in Cyberjaya has gained momentum since late last year, Lao says, citing the price increase of commercial land, which has risen to RM120 per sq ft from RM100 per sq ft.

“Despite the slight increase, the land here is still cheaper compared with the Kuala Lumpur City Centre area. Apart from large developers such as Mah Sing Group Bhd and Glomac Bhd launching new projects here, we are also in talks with five parties that are keen to acquire land in Cyberjaya for development. Three of them are public listed companies,” he says.

Lao says the role of the company is to undertake all aspects of Cyberjaya’s development, including planning and designing, providing basic infrastructure, marketing and selling of land parcels and other real estate developments.

“Setia Haruman offers assistance to Multimedia Super Corridor status companies in obtaining the right land and approvals for sub-division and building plans,” he says, adding that more than 50 buildings with 5.8 million sq ft of office space has been completed for leading companies such as HSBC, Shell, DHL and Motorola.

Lao says the company has built and sold over 3,000 units of residential homes that include 200 high-end properties.

Some of the new commercial developments include the CBD Perdana 2, comprising 256 units of four- and five-storey shop houses with a total gross development value of RM210mil.

“Setia Haruman is also working with UEM Land Bhd to develop a mix development project on a 100 acre plot at Perdana Lake View West. When the development of Cyberjaya is fully completed, there will be a total of 42,000 units of residential houses in the city,” he says.

On land sales figures, Lao says the company registered about RM500mil last year. This year the company is targeting about RM600mil based on increasing demand from buyers and investors.

A South Korean property firm may invest RM1.5 billion to build hotels and a theme park in Selangor Science Park 2 (SSP2), an integrated development in Cyberjaya.

A source said the developer had expressed interest to buy land from the Selangor State Development Corp (PKNS).

"The investors met PKNS officials two weeks ago for a discussion. They have seen the layout and concept of SSP2 and like it," the source told Business Times.

The source said the developer also wants to build resort-style homes and plans to market the properties in Asia-Pacific, Europe and the US.

If the deal materialises, it will be the fourth for PKNS this year.

On August 21, PKNS signed agreements with property developer Metro Kajang Holdings Bhd, investment group Andaman Group and Q-Cells, a Germany-based solar cell manufacturer, to develop land at SSP2.

They plan to collectively invest RM6 billion in SSP2.

PKNS general manager Othman Omar had said that more investments were expected to come from Singapore, South Korea and Indonesia, and that there were enquiries about SSP2 from the rest of Asia-Pacific.

The 400ha project was launched in 2007, with more than RM600 million spent on infrastructure.

The development plan shows that there will be 108 semi-detached factories and industrial lots as well as 261 shop lots, shop-offices and commercial lots.

It will also feature 9,289 units of workers' quarters, low- and medium-cost apartments, serviced apartments, condominiums, double-storey link houses, semi-detached homes and bungalows, covering 12 per cent of the total development area.

The remaining 38 per cent is for recreation and sports facilities, parks and green area.

SSP2 is projected to create 20,000 jobs and spur Selangor's economy.

By Business Times (by Sharen Kaur)

Metro Kajang To Partner PKNS for RM500M Development in Selangor

PROPERTY developer Metro Kajang Holdings Bhd will partner Selangor State Development Corp (PKNS) to develop an integrated project on a 2.4ha leasehold land in the city centre in Kajang, Selangor, for RM500 million.

Group senior general manager Chong Yong Han said the project, dubbed "Kajang Walk", will feature a three-star 300-room city hotel, a retail mall and offices.

Chong said the properties will have a gross built-up area of 1.5 million sq ft and both Metro Kajang and PKNS will jointly promote them to investors in Asia-Pacific, including Malaysia.

"This is our first venture with PKNS and we hope to work together on other potential developments," he said at a signing ceremony in Shah Alam, Selangor, yesterday.

The event saw Metro Kajang college operator Andaman Group and Q-Cell, a Germany-based solar-cell manufacturer inking agreements with PKNS to develop land at the latter's 400ha Selangor Science Park 2 (SSP2) integrated project in Cyberjaya.

PKNS general manager Othman Omar said he believes that the synergistic relationship between PKNS and Metro Kajang will benefit both parties.

By Business Times (by Sharen Kaur)

RM3.8 Billion Investment for Selangor Science Park 2

SHAH ALAM: Selangor State Development Corp (PKNS) has attracted RM3.8bil worth of investments via three investors for its Selangor Science Park 2 (SSP2) that is under development in Cyberjaya.

The investors are Q-Cell from Germany, the Andaman Group and Serba Sentosa Sdn Bhd, a wholly-owned subsidiary of Metro Kajang Holdings Bhd.

SSP2 is a 1,300-acre mixed development project with gross development value of RM3bil which is expected to be completed between 10 and 15 years.

PKNS general manager Othman Omar said Q-Cell, the largest manufacturer of solar wafer and cells in the world, had started operations in SSP2 in May.

“The company is also collaborating with us to energise PKNS Gallery in SSP2,” he said yesterday after a memorandum of understanding signing ceremony with the investors, witnessed by Selangor Mentri Besar Tan Sri Abdul Khalid Ibrahim.

Q-Cell plans to take up to 100 acres in SPP2 which will involve investment of about RM3bil.

The Andaman Group will develop another SEGi College campus, estimated to cost RM300mil. It had developed a similar campus in PKNS’ earlier project, Selangor Science Park 1, in Kota Damansara.

“Metro Kajang will collaborate with PKNS to develop our commercial and residential area in SSP2.

“In return, PKNS will jointly undertake a commercial development with Metro Kajang in Kajang town centre,” Othman said, adding that the land belonged to Metro Kajang.

Metro Kajang’s project in SSP2 will involve an investment of about RM500mil.

Going forward, Othman said PKNS was in serious talks with local and foreign investors to invest in SSP2. “We want our investors to be in line with the SSP2 concept of high-technology and environment-friendly industries,” he said.

SSP2 would be a low density and sustainable development, with over 20% of the area reserved for green areas and public parks.

By The Star

Mah Sing Upbeat on Cyberjaya Land

KUALA LUMPUR: Mah Sing Group Bhd’s purchase of 46.1ha freehold land in Cyberjaya for RM130.5mil cash will spearhead its expansion into the southern growth corridor.

According to Mah Sing group managing director cum group chief executive Tan Sri Leong Hoy Kum, the land will be developed into a medium to high-end gated and guarded residential – Garden Residence – comprising superlink homes, semi-detached homes and bungalows, with an estimated gross development value (GDV) of RM690mil.

The company told Bursa Malaysia it intended to fund the acquisition and the development cost of the land through internally generated funds and/or bank borrowings.

The company requested a whole day suspension for its share trading yesterday, pending this material announcement.

To be launched early next year, the Garden Residence will take three years to complete. It will also contribute to group earnings from the financial year ending Dec 31, 2010 (FY10).

At a press briefing yesterday, Leong said the Garden Residence would be developed in two phases. The first phase would be launched early next year, followed by the second phase, depending on the market response.

He said the mini-township project included a clubhouse and various facilities and amenities.

The first phase comprises 267 units superlink homes and 124 units semi-detached homes, amounting to about RM207mil to RM276mil or 30% to 40% of the total GDV of RM690mil.

He believes there is a pent-up demand for gated and guarded landed properties with good concepts and themes that boost value.

Mah Sing’s expansion strategy is to acquire choice land bank in multiple prime locations in Klang Valley, Kuala Lumpur, Penang and Johor Baru for its Commercial, Legenda, Residence and Perdana series which targets different segments of the medium to high-end property market.

With the Garden Residence, Mah Sing now has 17 projects located in high growth regions and property hot spots, comprising 12 projects in the Klang Valley, the Central Region, four projects in Johor, (the southern region) and one project in Penang (northern region).

All developments have a remaining total GDV and unbilled sales of about RM4.4bil.

“We plan to continue the acquisition trail for large landbanks for potential mass housing projects in Malaysia, and explore overseas opportunities in China and Vietnam, which has high population growth,” Leong said.

Among its new launches in the Klang Valley for the third and fourth quarters this year are the StarParc Point commercial project, Kemuning Residence Shah Alam, Hijauan Residence, One Lagenda bungalows development and Aman Perdana residential.

For Penang and Johor, projects to be launched this year are Penang Island Residence@Southbay, Johor Baru Sri Pulai Perdana 2 and Johor Baru Sierra Perdana.

By The Star (by Rachael Kam)

Mah Sing Plan RM690 Million Project in Cyberjaya

KUALA LUMPUR: MAH SING GROUP BHD has acquired a 115-acre piece of land in Cyberjaya and plans to undertake high-end residential development project with a gross development value (GDV) of RM690 million.

Managing director and CEO Tan Sri Leong Hoy Kum said on Aug 12 the land was acquired for RM130.5 million and would be used for medium to high end residential development.

"As the residential properties in Cyberjaya comprise mainly medium range apartments and bungalow lots, we believe there is a pent-up demand for gated and guarded landed properties," he said.

Mah Sing also has the option to purchase 6.32 acres of adjacent commercial land at RM79 per sq ft within six months from the date of the signing of the sales and purchase agreement.

"We are bullish about the future of Cyberjaya," Leong added. Together with this project, named Garden Residence, Mah Sing has a total of 17 projects with remaining GDV and ubilled sales of approximately RM4.4 billion.

Year-to-date, the group has achieved sales of RM543 million, exceeding its full year sales taerget by 1.2 times. The group's unbilled sales stood at RM800 million and would take about two to three years to be realised.

It was also looking at acquiring more landbanks in the Klang Valley and hoped to conclude about three to four deals by this year end.

By The EDGE Malaysia (by Joy Lee)

The property developer may start launching new projects from July this year to add 8.2 million sq ft of office space in Cyberjaya over the next five to seven years. The Emkay Group, a property developer owned by Tan Sri Mustapha Kamal Abu Bakar, is providing more office space at Cyberjaya, Selangor, to capture demand at the fast-growing township.

It is building an 11-storey office tower at its NeoCyber integrated development and two office buildings, known as block C and D, at MKN Embassy Techzone, an information technology park.

Techzone is being developed by MKN Embassy Development Sdn Bhd, a 60:40 venture between Emkay Group and Bangalore's Embassy Group.

The three new buildings will provide 826,000 sq ft of office space in Cyberjaya by early 2010.

"We are targeting for another five million sq ft of office space over the next five years," Mustapha Kamal said at the launch of block D by chief secretary to the government, Tan Sri Mohd Sidek Hassan.

Since it ventured into Cyberjaya in 2006, Emkay has completed block A and B at Techzone, and Bangunan Mustapha Kamal, providing 692,238 sq ft of office space.

Emkay may start launching new projects from July this year to add 8.2 million sq ft of office space in Cyberjaya over the next five to seven years.

The new projects could be worth a combined RM3.2 billion. They include the phase two of Techzone, which will have six purpose-built office blocks and the extension of NeoCyber.

Emkay's investment strategy in Cyberjaya is to lease the buildings first and then sell them.

Last year, it sold block A and B, and Bangunan Mustapha Kamal, to Amanah Raya Bhd, a public trustee company wholly-owned by the Minister of Finance Inc, for RM266 million.

Block A and B have been leased for 10 to 15 years to the Public Service Department and the Malaysian Administrative Modernisation and Management Planning Unit (Mampu).

Bangunan Mustapha Kamal has a long-term tenant in the Education Ministry.

Emkay is in the process of selling block C, which may be leased to Pejabat Pengarah Tanah dan Galian, and block D, where it is finalising a deal to lease it to a government agency.

Business Times learnt that Cyberview Sdn Bhd, a government-owned entity responsible for the development of Cyberjaya, may buy block C and D, which are worth around RM200 million in total.